Enbridge (TSE:ENB) Price Target Raised to C$76.00 at Royal Bank Of Canada

Enbridge (TSE:ENB) (NYSE:ENB) had its target price upped by investment analysts at Royal Bank Of Canada from C$72.00 to C$76.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 8.29% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from C$70.00 to C$73.00 in a report on Friday, January 16th. BMO Capital Markets boosted their price objective on shares of Enbridge from C$67.00 to C$70.00 in a report on Thursday, December 4th. Canadian Imperial Bank of Commerce cut their price target on Enbridge from C$71.00 to C$69.00 in a research note on Wednesday, December 17th. Raymond James Financial increased their target price on Enbridge from C$74.00 to C$76.00 in a report on Monday, November 10th. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$70.00 to C$72.00 in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$73.31.

Enbridge Stock Down 4.3%

Enbridge stock traded down C$3.12 during mid-day trading on Tuesday, reaching C$70.18. 6,281,935 shares of the company’s stock were exchanged, compared to its average volume of 8,972,060. Enbridge has a twelve month low of C$56.51 and a twelve month high of C$73.71. The company has a market cap of C$153.20 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a quick ratio of 0.44, a current ratio of 0.62 and a debt-to-equity ratio of 144.86. The company has a fifty day moving average of C$66.00 and a 200-day moving average of C$66.57.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings data on Friday, February 13th. The company reported C$0.88 earnings per share (EPS) for the quarter. The business had revenue of C$17.18 billion during the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. Sell-side analysts expect that Enbridge will post 3.511912 EPS for the current year.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.